v3.24.2.u1
Fair Value Measurements (Tables)
 3 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following tables present the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis (in thousands):
As of June 30, 2024
Level 1Level 2Level 3Total
Cash equivalents:
Commercial paper$— $2,180 $— $2,180 
Money market funds99,415 — — 99,415 
Total cash equivalents99,415 2,180 — 101,595 
Marketable securities:
Commercial paper— 41,576 — 41,576 
Corporate notes and bonds— 350,926 — 350,926 
U.S. government and agency securities240,561 5,983 — 246,544 
Total marketable securities240,561 398,485 — 639,046 
Total cash equivalents and marketable securities$339,976 $400,665 $— $740,641 
Liabilities:
Contingent earn-out consideration liability$— $— $11,015 $11,015 
Total contingent earn-out consideration liability$— $— $11,015 $11,015 
As of March 31, 2024
Level 1Level 2Level 3Total
Cash equivalents:
Corporate notes and bonds$— $1,180 $— $1,180 
Money market funds83,049 — — 83,049 
Total cash equivalents83,049 1,180 — 84,229 
Marketable securities:
Asset-backed securities— 121 — 121 
Commercial paper— 70,755 — 70,755 
Corporate notes and bonds— 225,822 — 225,822 
Sovereign bonds— 7,676 — 7,676 
U.S. government and agency securities355,804 5,937 — 361,741 
Total marketable securities355,804 310,311 — 666,115 
Total cash equivalents and marketable securities$438,853 $311,491 $— $750,344 
Liabilities:
Contingent earn-out consideration liability$— $— $16,813 $16,813 
Total contingent earn-out consideration liability$— $— $16,813 $16,813 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the changes in the contingent earn-out consideration liability (in thousands):
Three Months Ended June 30,
20242023
Beginning fair value$16,813 $21,862 
Additions in the period— — 
Change in fair value202 269 
Payments(6,000)(6,000)
Ending fair value$11,015 $16,131